REC Response to Latest November ONS Labour Statistics

REC – Record vacancies highlight UK businesses’ need to innovate to attract staff 

Today’s labour market statistics published by the Office for National Statistics (ONS) show the number of vacancies at 845,000 for August to October 2018, the highest since comparable records began in 2001 – 44,000 more than for a year earlier and 14,000 more than for May to July 2018.

The unemployment rate was 4.1%, slightly higher than for April to June 2018 but lower than for a year earlier (4.3%). There were 1.38 million unemployed people, 21,000 more than for April to June 2018 but 43,000 fewer than for a year earlier. There were 32.41 million people in work, 23,000 more compared with April to June 2018 and 350,000 more than for a year earlier.

Comparing the estimates for employment by nationality (not seasonally adjusted) for July to September 2018 with those for a year earlier, EU nationals working in the UK fell by 132,000 to 2.25 million (the largest annual fall since comparable records began in 1997). Non-EU nationals working in the UK increased by 34,000 to 1.24 million.

Recruitment & Employment Confederation (REC) director of policy, Tom Hadley commenting on ONS figures:

 

“Although unemployment has slightly increased, employers across many sectors are continuing to experience fundamental challenges in finding the staff and skills that they need. We already have record numbers of vacancies, and the signs are that these skills shortages will further intensify over the next few months as EU workers no longer find the UK an attractive place to work.

“UK businesses will need to work with recruitment partners to innovate and review current hiring strategies – particularly, with regards to reaching out to under-represented groups.  At the same time, the case for a pragmatic, evidence-based immigration strategy that reflects staffing needs across all sectors has never been clearer. It is critical that there is a comprehensive mobility deal with the EU post-Brexit, so firms have the capacity to invest and grow here in the UK.”

ENDS

Notes to Editors

 

1. For more information, contact the REC Press Office on 0207 009 2157/2192 or pressoffice@rec.uk.com. An ISDN line is available for interviews on 0207 021 0584.

2. Our model predicted the unemployment rate would fall to 3.9% and that there would be a fall in unemployment of 39,000 in the three months to September.

3. The unemployment rate (the number of unemployed people as a proportion of all employed and unemployed people) was 4.1%, slightly higher than for April to June 2018 but lower than for a year earlier (4.3%). There were 1.38 million unemployed people (people not in work but seeking and available to work), 21,000 more than for April to June 2018 but 43,000 fewer than for a year earlier. The economic inactivity rate (the proportion of people aged from 16 to 64 years who were economically inactive) was 21.2%, unchanged compared with April to June 2018 but lower than for a year earlier (21.6%).

4. Latest estimates show that average weekly earnings for employees in Great Britain in real terms (that is, adjusted for price inflation) increased by 0.9% excluding bonuses, and by 0.8% including bonuses, compared with a year earlier.

5. Full data and PDF available here: https://www.ons.gov.uk/employmentandlabourmarket/peopleinwork/employmentandemployeetypes/bulletins/uklabourmarket/november2018 

6. Jobs transform lives, which is why we are building the best recruitment industry in the world. As the professional body for recruitment we’re determined to make businesses more successful by helping them secure the people they need. We are absolutely passionate and totally committed in this pursuit for recruiters, employers, and the people they hire. Find out more about the Recruitment & Employment Confederation at www.rec.uk.com